Sky Sports News understands Manchester City have agreed a £19million deal with CSKA Moscow for striker Jo.
The Brazilian has been a long-term target of City, but he looks set to become new manager Mark Hughes' first signing for a club record fee.
Jo was a member of the Brazil squad which played England in the first game at the new Wembley in June 2007.
However, Jo - who is also thought to be a target of Valencia - made his international debut against Turkey later that year.
Firepower
The 21-year-old has scored 30 goals in 53 appearances for CSKA Moscow and Hughes would welcome that firepower as City chase a place in the top six of the Premier League next season.
There have been previous fears that a possible third-party ownership of Jo, who is advised by Kia Joorabchian, would prevent the deal following new rulings by the Premier League.
But a spokesman for Joorabchian recently said that there is nothing complicated in the proposed transfer and there is no issue of third-party ownership.
Jo is expected to agree a four-year deal, but the move will be subject to a medical and personal terms.